Guideline Value for NAGATHAMMAN STREET @ USMAN BASHA STREET

Nagathamman Street @ Usman Basha Street guideline value

The current guideline value for Nagathamman Street @ Usman Basha Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Nagathamman Street @ Usman Basha Street has changed

In the 2007 revision, the guideline value was set at Rs 1,167 per sq.ft. This figure saw a significant increase in the 2012 revision, where it remained unchanged at Rs 3,000 per sq.ft. The 2023 revision also retained the value at Rs 3,000 per sq.ft. However, from 2023 to 2024, there was a notable increase of 10%, bringing the current guideline value to Rs 3,300 per sq.ft.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 183%. The revisions for the years 2017, 2003, and 2002 do not have any figures recorded for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which aligns with the current value for Nagathamman Street @ Usman Basha Street.

• Nagathamman Street (or) Usman Basha Road: Rs 3,300 per sq.ft (2024)
• Naidu Shop Road: Rs 3,520 per sq.ft (2024)
• Nakkiran Street: Rs 3,520 per sq.ft (2024)
• Nagalakshmi Street: Rs 3,300 per sq.ft (2024)
• Naladiyar Street: Rs 2,750 per sq.ft (2024)
• Namalvar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagathamman Street @ Usman Basha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nagathamman Street @ Usman Basha Street?

The Sub Registrar Office that covers Nagathamman Street @ Usman Basha Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable taxes, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and helps in maintaining a fair process during property transactions.

Frequently asked questions

What is the current guideline value for Nagathamman Street @ Usman Basha Street?

The current guideline value for Nagathamman Street @ Usman Basha Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. Overall, from 2007 to 2024, the value has increased by 183%.

What is the land classification for Nagathamman Street @ Usman Basha Street?

Nagathamman Street @ Usman Basha Street is classified as Residential Class I Type - II. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for this street?

The Pallavaram Sub Registrar Office covers Nagathamman Street @ Usman Basha Street. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.